Parallel Advisors LLC Boosts Stock Position in Exelixis, Inc. (NASDAQ:EXEL)

Parallel Advisors LLC lifted its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL) by 14.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,664 shares of the biotechnology company’s stock after buying an additional 1,469 shares during the quarter. Parallel Advisors LLC’s holdings in Exelixis were worth $388,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EXEL. MassMutual Private Wealth & Trust FSB raised its position in Exelixis by 18.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 290 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Exelixis by 4.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company’s stock valued at $235,000 after buying an additional 330 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Exelixis by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 58,159 shares of the biotechnology company’s stock worth $1,937,000 after buying an additional 354 shares during the last quarter. Principal Securities Inc. increased its stake in Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after buying an additional 373 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in shares of Exelixis by 37.3% during the fourth quarter. V Square Quantitative Management LLC now owns 1,563 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $38.80, for a total transaction of $388,000.00. Following the sale, the executive vice president now directly owns 341,028 shares in the company, valued at $13,231,886.40. This represents a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary C. Beckerle sold 12,210 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $34.88, for a total transaction of $425,884.80. Following the sale, the director now directly owns 30,406 shares in the company, valued at $1,060,561.28. This represents a 28.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,343 shares of company stock valued at $5,177,234 over the last quarter. 2.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Bank of America cut Exelixis from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $35.00 to $39.00 in a research report on Tuesday, December 17th. BMO Capital Markets cut shares of Exelixis from an “outperform” rating to a “market perform” rating and increased their target price for the company from $36.00 to $40.00 in a research report on Friday, December 20th. Wells Fargo & Company lowered shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 price target on the stock. in a research report on Monday, February 24th. Morgan Stanley raised shares of Exelixis from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $30.00 to $40.00 in a research note on Monday, January 27th. Finally, StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.59.

Exelixis Trading Down 0.6 %

Shares of NASDAQ:EXEL opened at $36.96 on Friday. The business has a 50-day moving average price of $35.61 and a 200 day moving average price of $32.82. Exelixis, Inc. has a 12-month low of $20.14 and a 12-month high of $40.02. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. As a group, equities research analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Exelixis Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.